World Bank slashes Myanmar growth forecast
Just four months ago the World Bank predicted in its Global Economic Prospects report that Myanmar would grow at 8.2pc this year and 8.0pc in fiscal 2017, to become the world’s fourth-fastest-growing economy.
However, this outlook took a hit as floods swept the country in July and August, destroying almost 1 million acres of crops and affecting more than half of Myanmar’s 51.4 million people.
The 6.5pc forecast is subject to revision as more details emerge on the impact of the floods, the World Bank said in its 2015 Myanmar Economic Monitor.
